Most Australians like to think that they will be able to ‘age in place’, living life out in their own homes. But this is not always the case. There are currently about 180,000 Australians living permanently in aged care residences and these numbers are set to increase as the number of older citizens does. Which prompts the questions, will you have enough to fund your own age care needs? How much will you still have at age 80?
To answer these questions and others, we sought out the expert insights of Louise Biti who has been interpreting and advising on aged care for 25 years. She is also author of the best-selling guide to Aged Care, Don’t Panic: age the way you want where you want.
Aged Care is a hot topic at the moment because the release of a report on how it is funded is imminent. The Independent review of Aged Care funding, by a 12-person taskforce, took place between June and December last year. The Taskforce, chaired by Minister for Aged Care and Sport, Anika Wells, delivered its report to the Federal Government on 15 December.
Louise explains that the Royal Commission into Aged Care Quality and Safety (2021) touched on the need to have more money flowing into the aged care sector, but unfortunately time limitations did not allow them to explore adequately what it really costs. Nor how this could be shared across government and people accessing care services. This is why a taskforce was established. Many older Australians are keen to learn what the Taskforce found and recommends.